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German prosecutors raid Deutsche Bank over Kirch lawsuit

Deutsche Bank said on Thursday that German prosecutors searched its headquarters this week for evidence of alleged false testimonies by former chief executives Rolf Breuer and Josef Ackermann and ex-director Tessen von Heydebreck in connection with the bankruptcy of Kirch Media.

As part of a decade-long legal battle begun by late media mogul Leo Kirch against Germany's largest bank, the Kirch estate alleges that the testimonies by the trio - erstwhile members of the lender’s executive board - were false.

Kirch, who died last year, had accused Breuer of causing the media conglomerate’s bankruptcy in 2002 because the latter said in a television interview at the time that he thought it was unlikely that the group would receive any more bank loans.